Tieto’s banking solution helps FOREX Bank with Nordic expansion

Tieto is intensifying its cooperation with FOREX Bank, entering an agreement on supplying its basic application for banking services to the bank’s Finnish operation. The agreement, which runs for five years, means that FOREX Bank will soon also be able to offer its Finnish customers traditional banking services in addition to currency exchange, cash services and money transfers.

“FOREX Bank has operations in all the Nordic countries. Currency exchange and money transfers are offered at all 130 branches. Other banking services such as deposits, loans, payment processing, over-the-counter services, and bank, debit and credit cards have so far been offered exclusively in Sweden. We’ll soon be able to also offer these services to our customers in Finland. We’ll be starting with savings accounts, cash services, deposits, transfers, withdrawals and paid over-the-counter services, which will significantly strengthen our position in the Finnish market,” says Mikael Geitner, Manager Retail Nordics at FOREX Bank.

Tieto’s basic application for banking services has been designed to focus on efficiency and flexibility, which should make it possible to rapidly get a banking operation up and running and make local adjustments to the requirements of the market in question.

“We’ve previously had an agreement with FOREX Bank regarding supply of banking systems for the Swedish market. The fact that FOREX Bank has now also opted for Tieto’s solution for its Finnish operations is proof of our ability to produce effective banking applications that deliver real customer benefit. It’s a key milestone in our banking business. Our common aim is, in a subsequent stage, to expand Tieto’s delivery to FOREX Bank to also cover the operations in Norway and Denmark,” says Per Johanson, Executive Vice President, Financial Services at Tieto.

The solution for FOREX Bank will be supplied as a service that, in addition to the basic application, will also comprise implementation, operation, support and development of the system.

TIETO CORPORATION

Tieto is the leading IT service company in Northern Europe providing IT and product engineering services. Our highly specialized IT solutions and services, complemented by a strong technology platform, create tangible business benefits for our local and global customers. As a trusted transformation partner, we work closely with our customers and understand their unique needs. With approximately 18 000 experts, we aim to become a leading service integrator creating the best service experience in IT. www.tieto.com